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Murano PV, S.A. DE C.V. is set to go public through a merger with HCM Acquisition Corp (NASDAQ: HCMA), valuing the company at approximately $810 million with a pro forma share price of $10.00. The merger aims to enhance Murano's access to U.S. capital markets, accelerating its growth and ongoing development of luxury resorts in Cancun and Baja California, projected to total over 3,000 keys. The deal has been unanimously approved by both companies' boards, with completion expected by the end of Q3 2023. Existing Murano shareholders will roll their shares into the new entity, retaining about 85% ownership.
HCM Acquisition Corp (NASDAQ: HCMA) has announced an extraordinary general meeting of shareholders on December 20, 2022, to vote on three key proposals. The proposals include an Extension Amendment to prolong the deadline for completing a business combination to October 25, 2023, and a Trust Amendment to delay the liquidation of the trust account if a business combination isn't finalized by the Original Termination Date of April 25, 2023. Shareholders may also consider an Adjournment Proposal if necessary. The Board may abandon these proposals if certain redemption thresholds are not met.
HCM Acquisition Corp has priced its initial public offering (IPO) of 25,000,000 units at $10.00 each, with trading on Nasdaq commencing January 21, 2022, under the symbol "HCMAU." Each unit comprises one Class A ordinary share and one-half warrant, with the whole warrant allowing the purchase of one Class A share at $11.50. Cantor Fitzgerald & Co. is the sole bookrunner and has a 45-day option to purchase an additional 3,750,000 units. The company aims to acquire established businesses in the financial services sector offering disruptive technologies.
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